Modern POS retail systems, admittedly, are a small business’s lifeline. The main reason is that they can provide POS reports with much-need information from all sources and are able to generate digestible reports in which management can derive important decisions about sales, employees, inventory, and overall business strategy.

Navigating a POS report might be hard at first since there’s so much information to digest. But once you learn and benefit from these POS reports, you will find that these reports are invaluable resources for your business.

If you want to expound further and discover the different kinds of POS reports produced by your POS retail system, to give you an idea, here are some of them:

1. Accounting Reports

One of the best features of POS retail systems is the generation of accounting reports. These reports show the financial standing of the company. Business owners are able to view general ledgers which show the comprehensive account of sales, customer deposits, liabilities, accounts payable, and a lot more. One good thing is that you can customize your own accounting reports within your POS retail system by encoding general ledger codes and descriptions for better understanding and navigation. These can be categorized as refunds, cash adjustments, and revenue. A reliable POS retail system can run the accounting report and can easily export the information to Excel, a total time-saving feature. Accountants will be glad to see these reports in Excel. There should be built-in accounting reports in a POS retail system to help grow the business.

2. General analytics

One of the great advantages of the reporting functionality of a POS retail system is the generation of general analytics. Reviewing the analytics dashboard or perhaps pulling a general summary report can offer an obvious advantage over summary reports since these figures are in real-time and it will directly reflect the present standing of your business. These are: net sales, transaction totals, number of transactions, deposits, costs and invoice totals.

If your POS retail system does not have a dashboard, you can check under the reporting section for automated summaries. Many POS retail software has built-in general summary reports that can be emailed to you on a daily, weekly, monthly, or quarterly basis.

Easy POS sets your establishment the right way by helping you manage day-to-day transactions on the dot.

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Easy POS sets your establishment the right way by helping you manage day-to-day transactions on the dot.

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3. Inventory Reports

Inventory tracking and management are crucial to any retail business. Tracking inventory through a POS retail helps streamline the ordering process and helps minimize wastage and reduce costs. Unscrupulous employees will no longer be able to steal some items from the inventory because of how transparent inventory tracking is. Inventory summaries are the most common reports and usually give a general overview of the present inventory. The reports are constantly updated and are always in real-time. Many POS retail systems available also offer products that allow you to integrate your inventory analytics with third-party accounting software to streamline the process.

4. Sales and Payment Reports

Small businesses want to know what their bestsellers are. They want to pinpoint the demand and stop stocking low-performing or slow-moving products. Sales reports show all these. In general, sales reports allow you to view every item you sold, as well as a summary of your top performers and poor performers, total revenue, average order amount, orders by the time of day, sales tax breakdowns, deposit history, sales trends, most and least common payment methods, and more. These can be helpful in coming up with informed business decisions and may even boost sales and revenue.

5. Manpower Reports

Some POS retail systems provide manpower or labor reports. Most POS systems allow you to make profiles of employees. This means that the labor reports showing time and attendance as well as average sales transactions and amounts generated per employee are all listed down and accounted for. The good thing about manpower reports is the ability to determine certain periods of time that employees are working slow or those when employees work the most or during peak hours. This can help track performance and know the employees who are working hard as against those who just appear to be working.

These are the main POS reports that POS retail systems provide. And these are the ones that business owners should run. If you want an overall view of your business’s performance, the general analytic reports should be sufficient enough. But if you want to get a bird’s eye view of how your business is running then you should opt to have reports on Accounting, Inventory, Manpower, and Sales. EasyPOS can help you generate these reports. It is a dependable POS retail system that does the following:

1) Customizable restaurant setups, from menu items to table groupings.

2) Unlimited discounting, Multiple price levels

3) Unlimited pay types, e.g., Cash, Credit Cards, Gift Certificates, etc.Plus, it is BIR-Accredited! Book a free demo: https://human-incubator.com/easy-pos/

Easy POS sets your establishment the right way by helping you manage day-to-day transactions on the dot.

Click to Learn More.

Easy POS sets your establishment the right way by helping you manage day-to-day transactions on the dot.

Click to Learn More.